NEC Corp., Matsushita Electric Industrial Co., Ltd. and Panasonic Mobile Communications Co., Ltd. have revealed details about their joint company for mobile phone handset development, which was agreed and announced on July 27, 2006. The name of the new company is "ESTEEMO." This is a coined term consisting of Esteem and Mobile and contains the concept of mutual esteem between NEC and Panasonic Mobile.
The new company is capitalized at ¥100 million, with each of NEC and Panasonic Mobile providing 50% of it. Headquarters locates inside Panasonic Mobile in Yokohama, Kanagawa, while the branch office has been formed inside NEC Tamagawa Business Center in Kawasaki, Kanagawa, Japan. Its president comes from NEC and vice president comes from Panasonic Mobile, with the board of directors formed by respective two executive officers from each company. The number of employees reaches about 130. Operation will start on November 6, 2006.
The new company will develop a common hardware and software platform in an effort to reduce cost of mobile phone handset development. As for the common hardware platform, the company plans to explore application CPUs and SoCs, select core devices, choose component suppliers, and design, manufacture and assess test substrates in collaboration. NEC and Panasonic Mobile will each manufacture and market their mobile phones, after adding their own original design, software and other values to base handsets developed by the new joint company.
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